Finix: Sequoia-backed Finix surpasses $100m in total funding, aims to boost diverse investors | FinTech Global

Payments infrastructure company helping vertical SaaS companies, Finix has surpassed $100m in total funding. The FinTech firm has allotted 10% of its recent funding round to Black and Latinx investors. Commenting on the importance of inclusivity in the tech industry, Finix CEO and co-founder Richie Serna said, "People too often focus on one aspect of diversity, but it's not just about diversifying your employees, leadership team, or cap table-it's about all of them combined." Given how 80% of investment partners at VC firms are white and just 3% are Black and 3% are Hispanic or Latinx, according to research by NVCA-Deloitte Human Capital, it's indeed essential for more companies to pump in money to encourage diversity. Moving forward, Finix will be allocating 10% of each round to Black and Latinx investors, it said. During its Series B round in August 2020 where it extended its funding to $75m, Finix launched a special purpose vehicle (SPV) to bring over 80 marginalised investors to